General Electric (NYSE:GE) Price Target Raised to $202.00

General Electric (NYSE:GE) had its price objective boosted by Melius Research from $194.00 to $202.00 in a note issued to investors on Tuesday. Melius Research’s price target indicates a potential upside of 11.12% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group lifted their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Sanford C. Bernstein upped their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Citigroup raised their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada lifted their price objective on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Barclays increased their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Trading Up 2.9 %

NYSE GE opened at $181.78 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a 52 week low of $84.58 and a 52 week high of $194.80. The business has a 50 day moving average price of $179.51 and a 200-day moving average price of $168.15. The company has a market cap of $198.98 billion, a price-to-earnings ratio of 59.60, a P/E/G ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the previous year, the business posted $0.82 EPS. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

Institutional Trading of General Electric

Several hedge funds have recently made changes to their positions in GE. Capital International Investors lifted its holdings in General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares during the last quarter. Newport Trust Company LLC purchased a new stake in shares of General Electric during the 2nd quarter valued at approximately $2,613,332,000. Capital World Investors boosted its holdings in General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares during the period. Legal & General Group Plc grew its stake in General Electric by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after buying an additional 459,201 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in General Electric by 221.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after acquiring an additional 4,907,530 shares during the period. 74.77% of the stock is currently owned by institutional investors.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.